Think Hong Kong has no withholding tax? Not exactly. While many types of income are exempt, there are specific situations where you are legally required to withhold tax for the Inland Revenue Department (IRD). Here is your guide. When we talk about “Withholding Tax” (WHT) in Hong Kong, business owners often assume it doesn’t apply… Continue reading Understanding Withholding Tax in Hong Kong: What You Must Know
Housing benefits received by directors/employees from employers or the employers’ affiliated corporations are generally subject to salaries tax in Hong Kong unless an offshore/exemption claim on their directors’ fees/employment income can be satisfied. However, the salaries tax can be potentially mitigated in most circumstances in case the housing benefits are provided in the form of… Continue reading Housing Benefits & Allowance in Hong Kong
The Comprehensive Avoidance of Double Taxation Arrangement between Hong Kong and Macao (“CDTA-HK/MC”) is the latest of Hong Kong 45 international double taxation agreements. It has entered into force on 18 August 2020. It will be applied in Macao and Hong Kong as from 1 January 2021 and 1 April 2021 respectively. This agreements follows… Continue reading Double Taxation between Macao and Hong Kong Arrangement In Force
This strategic move can be driven by various motivations, such as optimising the capital structure, returning surplus funds to shareholders, or eliminating accumulated losses.
Singapore and Hong Kong are two international cities in the Asia Pacific region which attract a lot of foreigners for investment and work opportunities. One of the concerns these foreigners may have is the individual income tax liabilities on their income earned. In Hong Kong, the income tax rates applied to non-resident individuals have remained… Continue reading Non-Resident Individuals Income Tax Rates in Singapore and Hong Kong
As the Hong Kong tax filing season approaches, individual taxpayers may be exploring available deductions and allowances to reduce their tax liability. One commonly claimed allowance is the Dependent Parent and Grandparent Allowance, which applies to those who financially support an elderly parent or grandparent. While the allowance offers meaningful tax relief, the eligibility criteria… Continue reading Parent and Grandparent Allowance in Hong Kong: Eligibility and Compliance Tips
Mainland China and Hong Kong have entered into their Fifth Protocol to their Comprehensive Avoidance of Double Taxation Arrangement.
Have you ever thought of creating your own business? Some people are of the view that it would be especially good for the young generation to start their own business due to their creativity, flexibility, hunger for success, fearlessness and technology knowledge. The young entrepreneurs are capable of bringing new ideas and skills to the… Continue reading Startup – Are You Ready to be an Entrepreneur?
When considering starting a business in Hong Kong, it is essential to understand the various types of companies and business structures available.
To promote the research and development (“R&D”) sector and the creative industries in Hong Kong to exploit their intellectual property (“IP”) rights for economic growth and competitiveness, the Hong Kong government has introduced the Patent Box Regime.
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